By Erwin Busselot, Director Business Innovation & Solutions, Ricoh Graphic Communications, Ricoh Europe
Ricoh Europe, London, November 01 2024 – Younger generations are increasingly appreciating the superior quality of printed magazines. That is according to Alastair Lewis, the CEO of FIPP, the global network of media companies and professionals.
He points to a potential renaissance for printed media as these audiences look for depth and substance among the digital noise. He sees them ‘recognising the superior experience print offers for reading and retaining information’. He suggests Sweden’s policies encouraging younger audiences to value print for its distinctiveness compared to screen based formats, are among the factors influencing this trend.
YouGov data found that reading magazines in print rather than online was preferred by 58% of Britons. Across the polled age groups, 18 to 24 years olds and 25 to 34 year olds were the biggest supporters of printed magazines at 32% and 28%, respectively.
A survey of The Economist’s readership found younger readers were more likely to take a print only subscription while older readers were more likely to prefer digital. And under 25s are leading a rebirth for a certain type of design led publication according to Steve Watson from Stack Magazines, which chooses a different independent magazine to send to subscribers every month.
This was among the numerous new market realities facing publishers noted by Lewis who also identified ways publications can forge a stronger audience connection:
- Be audience first – Make decisions that serve the audience while creating a sustainable business model. For example, Brazilian newspaper Estadão, launched Agro Estadão to serve a gap in the agricultural sector, which accounts for 30% of the country’s GDP.
- Diversify revenue streams – Move beyond traditional advertising, by exploring subscriptions, events, and e-commerce, such as Your Luxury did. It’s a South African magazine that built its audience through Instagram before launching its print version.
- Embrace AI: AI has the potential to enhance audience insights and content delivery, as Axel Springer is finding with its partnership with OpenAI to boost engagement.
- Make ESG central: Embed Environmental, Social, and Governance (ESG) principles like Immediate Media in Great Britain which is targeting net zero by 2030.
Digital print production can help publishers and publications respond to all these goals. It enables the delivery of curated and highly relevant content that connects with audiences of all ages, however and wherever they have been established. The use of QR codes and Augmented Reality (AR) capabilities can join online and offline worlds to provide a seamless customer experience. Print runs can be matched to demand and help achieve sustainability aims.
Ricoh inkjet and toner based presses can support the seamless mix of physical and online channels resulting in an effective product that is more impactful than its online counterpart as I discussed here.
Looking to help magazines connect with their audiences to help fire up a renaissance in print? Speak to our expert team and discover how.